Crypto-savvy investors have longed to see such a registration from Grayscale, which has now formally filed its application with the SEC to list its Grayscale Bitcoin Trust shares (GBTC) on the NYSE Arca exchange. The proposal could lead to Grayscale’s successful conversion of the fulfilled trust into an ETF, provided the regulator approves both its NYSE Arce application and registration, taking into consideration its earlier disclosures throughout 2020.
The latest attempt by Grayscale to attain a Spot Bitcoin ETF came off the heels of their winning lawsuit against the SEC. This forced the agency to re-evaluate its prior rejection and enticed the company to pursue talks with state commissioners in anticipation of their stamp of approval. Grayscale is one of numerous major entities hopeful for approval, including BlackRock, ARK Invest, and Fidelity, that focus primarily on receiving a CFTC-regulated GBTC.
Owing to what some consumers view as a incessant waiting period to experience Forward progress, Grayscale’s ceaseless approach could be taken as a sign of buoyant-industry spirit around an eventual Spot Bitcoin ETF extremely wanted out after such grueling motions.
